Cost Metrics
Cost Metrics
Cost Metrics
DECEMBER 9, 2015
The main objective of the Summary Cost Metrics report is to provide cost engineers with quick and easy metrics to be used for high-level cost
evaluations. The metrics themselves are based on IPA’s Level 1 (e.g., total construction labor cost) Cost Database, and include only completed
costs. The metrics are most commonly used for proportional checks (e.g., Engineering Cost to Total Cost or to validate equipment factored
estimates). The following is a brief description of the sets of metrics in this report:
Ratio to Total Project: The ratio of the cost of each summary cost account to the total design and construction cost.
Ratio to Equipment: The ratio of the cost of each summary cost account to the equipment cost.
Office Cost Ratios: The ratio of the cost of each office cost summary account (definition, engineering, and PM) to the total office cost.
Ratio to Total Field Cost: The ratio of the cost of each summary account to the total field cost (field costs include construction
management, labor, bulks, equipment, and other construction-related).
Other Cost Ratios: Various field cost-related ratios such as office costs/field labor, office cost/bulks, field labor/bulks, CM/construction
labor, etc.
Definitions: IPA’s standard summary cost account definitions.
Lists of the individual metrics contained in each of the metric sets above are provided below: